In your own words, briefly define what is meant by a material weakness in internal control.
Question:
In your own words, briefly define what is meant by a "material weakness in internal control."
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Definition of Material Weakness in Internal Control Material weakness in internal control refers to a significant deficiency or combination of deficie...View the full answer
Answered By
Ayush Mishra
I am a certified online tutor, with more than 3 years of experience in online tutoring. My tutoring subjects include: Physics, Mathematics and Mechanical engineering. I have also been awarded as best tutor for year 2019 in my previous organisation. Being a Mechanical Engineer, I love to tell the application of the concepts of science and mathematics in the real world. This help students to develop interest and makes learning fun and easy. This in turn, automatically improves their grades in the subject. I teach students to get prepared for college entry level exam. I also use to teach undergraduate students and guide them through their career aim.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Portray in words what transforms you would have to make to your execution to some degree (a) to accomplish this and remark on the benefits and detriments of this thought.You are approached to compose...
-
Prolog You are approached to compose a Prolog program to work with twofold trees. Your code shouldn't depend on any library predicates and you ought to expect that the mediator is running without...
-
Microkernel operating systems aim to address perceived modularity and reliability issues in traditional "monolithic" operating systems. (i) Describe the typical architecture of a microkernel...
-
In 2022, Tornado Ltd. had average inventory of $92000. The 2022 income statement showed net sales of $2100000 and gross profit of $428000. In 2021, it was taking the company approximately 30 days to...
-
Duke Energy reported that the cost of electricity for an efficient home in a particular neighborhood of Cincinnati, Ohio, was $104 per month (Home Energy Report, Duke Energy, March 2012). A...
-
Compute interest and find the maturity date for the following notes. Date of Interest Note Principal Rate (%) Terms (a) June 10 $80,000 6% 60 days (b) July 14 $50,000 7% 90 days (c) April 27 $12,000...
-
2. Many companies use economists forecasts of foreign-exchange rates to translate cash flow projections denominated in foreign currency. What are the possible drawbacks of using such forecasts?
-
The following transactions occurred during 2012. Assume that depreciation of 10% per year is charged on all machinery and 3% per year on buildings, on a straight-line basis, with no estimated salvage...
-
P11-30 (book/static) Question Help 10 years Integrative: Investment decision Holliday Manufacturing is considering the replacement of an existing machine. The new machine costs $1.28 million and...
-
An integrated services digital network is a high-speed phone line that can be used to: a. Access software from a service bureau. b. Access software from the Internet. c. Enhance the processing...
-
Briefly describe the process of identifying transaction cycles.
-
Calculate departmental overhead rates. LO5
-
In the circuit shown below, IE = 120 mA, a = 0.99, a2 = 0.98. Assuming that both transistors are in the active state, answer the following questions: 1. Find IC, IB, IE, IC, and Ic. 2. Find the...
-
Find the open intervals where the function is concave upward or concave downward. Find any inflection points. f(x)=-(x+1)6 Find any critical numbers for f and then use the second derivative test to...
-
Worked Example A two-dimensional incompressible flow is expressed by the velocity functions: u = -2xy y = y = x 1 w=0 Find the pressure field p(x, y) when the pressure at the origin (x=o, y=o) is p.....
-
The following information is available for Blue Spruce Corp. for 2022. Cash used to purchase treasury stock Cash dividends paid $111,592 50,576 Cash paid for interest Net income 51,968 1,077,176...
-
3 4pts Foam k MA C L H W F A box is transported by a truck. Suddenly, the driver uses the brakes and applies 100 N deceleration force to the box. The weight of the box is 20 Kg and its dimensions are...
-
LAN Corporation uses the LIFO inventory costing method to account for its inventory. In the most recent year, LAN had net sales of $4,000, cost of goods sold of $1,685, and operating expenses of...
-
Find the area of the surface generated by revolving the para- metric curve x = cos 1, y = sin? 1 (0 < I sa/2) about the y-axis.
-
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2...
-
Prepare the adjusting journal entries and Post the adjusting journal entries to the T-accounts and adjust the trial balance. Dresser paid the interest due on the Bonds Payable on January 1. Dresser...
-
Venneman Company produces a product that requires 7 standard pounds per unit. The standard price is $11.50 per pound. If 3,900 units required 28,400 pounds, which were purchased at $10.92 per pound,...
Study smarter with the SolutionInn App